ValuEngine upgraded shares of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) from a strong sell rating to a sell rating in a research report report published on Thursday, May 11th.
SPPI has been the topic of a number of other research reports. FBR & Co reissued a buy rating on shares of Spectrum Pharmaceuticals in a report on Saturday, April 1st. HC Wainwright set a $10.00 price target on Spectrum Pharmaceuticals and gave the company a buy rating in a report on Saturday, May 6th. Jefferies Group LLC raised their price target on Spectrum Pharmaceuticals from $8.50 to $9.00 and gave the company a buy rating in a report on Wednesday, May 3rd. Finally, Zacks Investment Research cut Spectrum Pharmaceuticals from a hold rating to a sell rating in a report on Wednesday, January 11th. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company. Spectrum Pharmaceuticals presently has a consensus rating of Hold and a consensus target price of $8.90.
Spectrum Pharmaceuticals (SPPI) opened at 5.95 on Thursday. The stock’s market capitalization is $467.21 million. Spectrum Pharmaceuticals has a 52-week low of $3.21 and a 52-week high of $8.00. The stock has a 50 day moving average of $6.42 and a 200 day moving average of $5.58.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last posted its quarterly earnings results on Tuesday, May 2nd. The biotechnology company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.02. The company had revenue of $29.10 million during the quarter, compared to the consensus estimate of $32.23 million. Spectrum Pharmaceuticals had a negative return on equity of 13.92% and a negative net margin of 34.19%. On average, equities research analysts forecast that Spectrum Pharmaceuticals will post ($1.08) EPS for the current year.
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Large investors have recently added to or reduced their stakes in the stock. Two Sigma Securities LLC purchased a new stake in Spectrum Pharmaceuticals during the third quarter valued at $101,000. Denver Investment Advisors LLC purchased a new stake in Spectrum Pharmaceuticals during the first quarter valued at $106,000. Mason Street Advisors LLC raised its stake in Spectrum Pharmaceuticals by 8.4% in the first quarter. Mason Street Advisors LLC now owns 16,577 shares of the biotechnology company’s stock valued at $108,000 after buying an additional 1,279 shares in the last quarter. Hartford Investment Management Co. raised its stake in Spectrum Pharmaceuticals by 35.8% in the third quarter. Hartford Investment Management Co. now owns 24,300 shares of the biotechnology company’s stock valued at $113,000 after buying an additional 6,400 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Spectrum Pharmaceuticals by 5.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 37,600 shares of the biotechnology company’s stock valued at $167,000 after buying an additional 1,930 shares in the last quarter. Institutional investors own 69.31% of the company’s stock.
About Spectrum Pharmaceuticals
Spectrum Pharmaceuticals, Inc is a biotechnology company. The Company operates through developing and commercializing oncology and hematology drug products segment. It has a product portfolio consisting of both commercial stage and development stage products that address various cancer types. The Company has six approved oncology/hematology products that target different types of cancer, including non-Hodgkin’s lymphoma (NHL), advanced metastatic colorectal cancer (mCRC), acute lymphoblastic leukemia (ALL) and multiple myeloma (MM).
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